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Broker finnCap wins more clients but profits dip as uncertainty grips markets

Sam Smith, chief executive, said it was good performance given the backdrop and finncap is in good shape to meet its expectations over the full year.

finnCap Group Plc -

Broker and corporate financier finnCap Group PLC (LON:FCAP) will post lower profits this half-year as the slowdown in activity on financial markets caused by Brexit and the general global uncertainty take their toll.

Revenues for the six months ended 30 September will be £14.2m (£9.1mln for five months) with profits of around £1.3mln (£1.4mln also for five months).

Sam Smith, chief executive, said it was good performance given the backdrop and finncap is in good shape to meet its expectations over the full year.

“Despite the challenging market conditions, we have signed up 12 new retained corporate clients and 17 new sell-side mandates in the first half and have a strong pipeline for the second half.”

Quick facts: finnCap Group Plc

Price: 23.5 GBX

AIM:FCAP
Market: AIM
Market Cap: £39.89 m
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